Up to $30,000 in Grant Funding for Canadian Businesses
The Regional Relief Recovery Fund (RRRF) offers $40,000 funding of which $10,000 is forgivable if the remaining $30,000 is repaid by March 31, 2023. The program is available to northern, western, eastern and rural Canadian organizations impacted by Covid-19. RRRF is similar, but can be stacked with Canadian Emergency Business Account (CEBA) funding, which, for severely Covid-19-impacted organization (including those in urban centres), has been increased from $40,000 to $60,000, with a third of the support (i.e. up to $20,000) forgiven if the remaining is repaid by December 31, 2022.
To be eligible for RRRF funding applicants must be
- Established prior to March 1, 2020 with an active CRA number
- Impacted adversely due to the COVID-19 pandemic
- Viable and not experiencing liquidity or other financial difficulties prior to March 1, 2020
- Have attempted to access other federal relief supports and were ineligible, rejected, or require funding for expenses in excess of support already received (priority is given to applicants who were ineligible or rejected from other federal relief support).
Eligible costs include but not limited to: rent, salaries/benefits, equipment lease payments, taxes, utilities, cleaning supplies and additional safety measures due to COVID-19, bank interest/charges and loan repayment (interest), professional fees (accountant, lawyer, etc.), insurances, expenses associated with retooling, rethinking workflows, automation, robotics, developing new markets, etc.
In Ontario RRRF is delivered through area Community Futures Ontario. For Eastern Canada apply through Community Business Development Corporation (CBDC) and for Western Canada through Community Futures.
It is highly advised to apply early as funding is quickly being exhausted.
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